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Indal net drops to Rs 28.7 cr

Calcutta, Jan. 23: Lack of demand for rolled product and rising input costs have forced Indian Aluminium Company (Indal) to post a lower net profit at Rs 28.7 crore during the third quarter ended December 31 compared with Rs 30.1 crore in the corresponding period last year. Sales had dipped to Rs 315 crore during the period under review compared with Rs 330 crore in the third quarter of last fiscal.

While net sales and operating revenue remained flat at Rs 994 crore for the nine-month period from April to December compared with the sales of Rs 998 crore in the corresponding period last year, exports grew by 14 per cent at Rs 285 crore as against Rs 249 crore, last fiscal.

The impact of a competitive semi-fabricated market and rising power costs were partly overcome through improved production from alumina plants, record captive power generation and commissioning of new smelter pots at Hirakud.

The expanded capacity at Hirakud smelter has contributed to higher metal output at 34,726 tonnes against 33,386 tonnes. Indalís sheet plants at Belur and Taloja recorded a lower output of 49,440 tonnes as against 53,267 tonnes, last year. Sheet production was lower at 28,532 tonnes. Performance of the extrusions unit at Alupuram has gone up by 15 per cent to 6,935 tonnes as against 6,056 tonnes last fiscal.

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